Southern Telecom generated a total revenue of RUR 10, 567,000 in 2002, which is up 28.7% compared with 2001. In addition, revenues from core activity (sale of telecom services) reached RUR 10,042,000, which is up 27.1% on 2001.
Costs incurred for main activity of STC rose 29.7%, for a total of RUR 7,870,000. Depreciation charges rose 24.5% to reach RUR 770,600,000, as the result of a 59.1% increase in fixed assets, which was equal to RUR 2,973,600.
EBITDA posted an increase of 46.5%, reaching RUR 3,249,200 against RUR 2,217,700 last year. EBITDA stood at 30.7% in relation to revenue in 2002. Operating profit in 2002 reached RUR 2,697,200, posting an increase of 24.9%. Net profit posted an increase of 59.7%, standing at RUR 1,561,900 compared with 978,300,000 in 2001. Significant growth in profit can be accounted for by gains in financial assets (securities).
As a result of growth in key performance indicators the company managed to retain its positive dynamics in terms of business efficiency. Balance sheet profit margin based on the results of 2002 was up 5.1% and reached 20.2%. Revenue per line increase 22.9% and stood at RUR 3,291; revenue per employee was RUR 248,413 with a growth rate of 138.7%; number of lines per employee was 75.5 lines for 2002, which was up 12.9% compared to the previous year.
|
Index |
RUR, mln |
$, mln* |
|
|
2001 |
2002 |
Change, % |
2001?. |
200222?. |
Change, % |
|
Revenue |
8,209.3 |
10,567.8 |
28.7% |
281.3 |
337.0 |
19.8% |
|
Incl. from sale of telecom services |
7,899.2 |
10,042.4 |
27.1% |
270.7 |
320.3 |
18.3% |
|
Operating profit |
2,160.0 |
2,697,2 |
24.9% |
74.0 |
86.0 |
16.2% |
|
Pre-tax profits |
1,459.9 |
2,296,6 |
57.3% |
50.0 |
73.2 |
46.5% |
|
Net profit |
978.3 |
1,561.9 |
59.7% |
33.5 |
49.8 |
48.6% |
|
EBITDA |
2,217.7 |
3,249,3 |
46.5% |
76.0 |
103.6 |
36.4% |
* Calculation is based on the average official exchange rate for the $US during 2001-2002
The amount of capital investments rose by 102.6% in 2002 and stood at RUR 3.6 billion, the majority of which was allocated to business development. During the past year 374,250 new lines were entered into service, which represents a 61.6% increase over 2001. The increase in main telephone lines in 2002 was 165,800, which is up 8.3% over the 2001 figure. The average number of lines as of January 1, 2003 stood at 321,100 lines.
The length of long-distance telephone channels in 2002 rose by 1,629,250 ch/km and stood at 8,677,850 ch/km, including those formed using digital transmission systems, which rose by 1,777,000 and stood at 6,442,800 ch/km. Increase in the length of digital long-distance channels run by Southern Telecommunications was obtained by annual growth in the volume of transportation node construction. The company’s 2003 business development plan provides for further extending the transportation node, which will make it possible to improve the quality of network operations and ramp up the amount of telecom services provided. During 2002 STC’s intra-zonal networks added 686.95 km to its fiber-optic transmission lines, and their total length as of January 1, 2003 stood at 4,351.2 km.
STC’s technical policy is aimed at developing and phasing in new technologies and calls for an additional increase in the company’s share of ISDN revenues, value-added services, and Internet (2.7% in 2001, 2.9% in 2002, and 3.5% in 2003).
|
